Scrutinizer Report of Postal Ballot Notice dated 17th March, 2025
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Awaiting price reaction for this filing.
Heads UP Ventures Ltd conducted a Postal Ballot that ended on 16 April 2025, with shareholders voting on one special resolution to alter the Main Objects Clause of the company's Memorandum of Association by adding new business objects. Out of 20,422 shareholders on record date (14 March 2025), only 45 shareholders voted, representing 28.58 lakh shares or just 12.94% of total outstanding shares (2.21 crore). Of the votes cast, 28,57,513 (99.99%) were in favour and only 166 votes (0.01%) were against. Promoters fully supported the resolution with 100% of their 29.94 lakh shares voted in favour, while public non-institutions showed very low participation (0.16%) but voted 99.47% in favour. The resolution has been declared passed with the requisite majority.
Shareholders have approved expanding the company's permitted business activities by adding new objects to its charter (MOA). This gives the company greater flexibility to enter new lines of business in the future, though the specific new objects are not detailed in this filing. The overwhelming approval (99.99% in favour) signals strong shareholder consensus, but the very low voting turnout (12.94%) is notable.